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Lifetime ISA Question
nturner2
Posts: 2 Newbie
Hi,
I am currently depositing £4,000 into my lifetime isa per tax year in order to get the full government bonus.
I am looking to buy a house in July 2021 using this deposit and government bonus and therefore getting a residential mortgage. However, my question is if i was to i try and flip this residential mortgage to a buy-to-let mortgage 2 years after the purchase of my house (i have plans to go work away and use this as an investment) , would i have some kind of charge to pay back?
I wanted to know the implications of this process of flipping the residential to a buy-to-let mortgage as barely anyone knows the answer to this.
Thanks for your help!
Nathan
I am currently depositing £4,000 into my lifetime isa per tax year in order to get the full government bonus.
I am looking to buy a house in July 2021 using this deposit and government bonus and therefore getting a residential mortgage. However, my question is if i was to i try and flip this residential mortgage to a buy-to-let mortgage 2 years after the purchase of my house (i have plans to go work away and use this as an investment) , would i have some kind of charge to pay back?
I wanted to know the implications of this process of flipping the residential to a buy-to-let mortgage as barely anyone knows the answer to this.
Thanks for your help!
Nathan
0
Comments
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I get a message saying I can't post links because I'm new on this forum. But on the blog.moneysavingexpert.com website there is this page:
/2016/04/can-you-rent-out-a-home-bought-with-a-help-to-buy-isalifetime-isa/?
If you put that together or use Google you may find the page useful.
I hope this helps you.0 -
-
seradane,
Thanks - that was the link I could not post!0 -
Thank you!0
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